I mean, the alternative is Ryujinx, which Nintendo has for some reason ignored for now.

(Ryujinx's devs are much more cautious about things like banning any references to piracy in their discord and avoiding anything that could look like getting money in exchange for access, both of which may have given them less legal exposure.)

I think a federated version should work....

Here's a link to an instance of radicle for Yuzu. It's a p2p git server implementation. I haven't looked too much into it yet, but the tech seems interesting.